Pump.fun, a platform for launching meme tokens, has recently transferred a large amount of SOL to the crypto exchange Kraken. They have deposited a total of 1,500,893 SOL worth $303 million to Kraken and sold some for $41.64 million in USDC. This has sparked concerns among investors who accuse Pump.fun of "dumping" on Solana and potentially harming the ecosystem. The platform has been criticized for its business model prioritizing profits over the long-term sustainability of Solana. Despite the controversy, Solana's decentralized applications have performed well, generating $365 million in revenue in November 2024. Pump.fun has become the first Solana-based protocol to exceed $100 million in monthly revenue. However, Solana's price continues to face challenges, and there are possibilities of further price drops.



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